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Profitable space startup SWISSto12 lands $70M
SWISSto12 raised $70 million while staying profitable, adding to fresh backing for its HummingSat program and broader sovereign space push.
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SWISSto12 has raised $70 million while turning a profit — still a rarity in space hardware. The Swiss company said it closed the €61 million Series C round just days after ESA member states committed $84.8 million to its HummingSat program, bringing its fresh capital in a month to more than $150 million. It did not identify the investors.
The numbers stand out in a sector better known for cash burn. SWISSto12 said it booked $140 million in revenue in 2025, holds more than $500 million in signed contracts, and has grown 110% a year since 2022. It expects to be EBITDA-positive this year. Founded in 2011 as a spin-out from Switzerland’s EPFL, the company now has about 224 employees.
Its pitch centers on manufacturing. SWISSto12 3D-prints the radio-frequency core of its hardware, which it says makes components lighter and faster to produce.
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The company sells two main products. HummingSat is a compact geostationary satellite, roughly one-tenth the size of a standard one, designed to share a ride to orbit with a larger spacecraft. HummingLink is a line of payloads and antennas that can be attached to other operators' satellites across different orbits.
That approach has helped it win business from established satellite operators instead of competing directly against them. The company says it has seven HummingSat contracts, including deals with SES and Viasat, and more than 2,000 HummingLink units in orbit. It is targeting markets including direct-to-device connectivity, broadcasting, and sovereign communications.
The round also fits a broader European trend. Capital is flowing into space and deep tech as the region tries to build domestic champions, from ICEYE’s €450 million round to smaller financings, often with public money leading and private investors following. The underlying driver is sovereignty, as governments look for communications networks that do not depend on a single orbit, operator, or foreign power.
“Space is increasingly recognised as essential infrastructure for the global economy.”
There are still real risks. Orders for GEO satellites are shrinking as low Earth orbit constellations take broadband and maritime business, leaving SWISSto12 to bet on a market that is still shifting. It also faces deeper-pocketed rivals, especially Astranis, the US company developing similar small GEO satellites that TechFundingNews said has raised about $1.2 billion.
Frontier Editor
Dan is our resident futurist, covering electric mobility, space exploration, and the smart home. He's interested in atoms just as much as bits. Whether it's a new battery chemistry, a reusable rocket, or a protocol that finally makes IoT devices talk to each other, Dan breaks down the engineering that pushes humanity forward.
via TNW
